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Page last updated at 16:42 GMT, Saturday, 20 February 2010

Notts County executive Rodwell finds 'staggering' debts

Notts County

Notts County chief executive Jim Rodwell says there is a 50/50 chance the club will go into administration with their debts now at £6m.

The Magpies face a winding up petition next week from HM Revenue & Customs over an unpaid tax bill of £324,000.

Rodwell told BBC Radio Nottingham: "I would say [administration] at the moment is probably 50/50.

"A decision will clearly have to be made at the beginning of next week with the winding-up petition on Wednesday."

The new owners have now uncovered debts totalling around £6m since taking over the Meadow Lane club and Rodwell admitted there could be another winding-up order served on the club.

A lot of people will wait for their money, people who are realistic and who want to see the football club survive

Notts County chief executive Jim Rodwell

"The problem is not just that winding-up order, which in the grand scheme of things is for a relatively small amount.

"The problem is that you pay that and I think we'll find we'll have another winding-up order within 24 hours of paying that one," he said.

"Things happen on a daily basis, and people present you with bits and pieces for astronomical sums of money, for services you wouldn't necessarily associate with a League Two football club.

"It's staggering what we've found, there's even chauffeurs bills and we don't expect that type of invoice but we've got plenty.

"£6m is an astronomical amount of money for a football club to owe, but you would be amazed at the goodwill from a lot of the creditors.

"A lot of people will wait for their money, people who are realistic and who want to see the football club survive.

"You have got to understand that a lot of the people who have given their services to Notts County Football Club are supporters as well, they don't want to see the football club fail."



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